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Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 03/18/2008
ABFS (Arkansas Best--$31.87; +1.40; optionable): Trucking
http://biz.yahoo.com/p/a/abfs.html
EARNINGS: Announced 1-25-08
STATUS: Cup w/handle. ABFS has formed a small 7 week base after jumping off the bottom of a long decline that began in mid-2006. Good bounce, nice base over the 50 day EMA, and then break higher through the 200 day SMA (30.80) last week. Volume rose as it made that move, clocking in above average after low trade in the base. Strong price move Tuesday though no volume to follow it just yet. Money flow is screaming higher ahead of price, and ABFS is in a very good position to run toward last summer's trading range at 40 and make us some good money.
Volume: 619.801K Avg Volume: 834.019K
BUY POINT: $32.08 Volume=1.2M Target=$38.75 Stop=$30.68
POSITION: FDQ FF - June $30c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/abfs.html
Play Date: 03/18/2008
BRKR (Bruker Corp.--$15.42; +1.24; optionable): Scientific instruments
http://biz.yahoo.com/p/b/brkr.html
EARNINGS: Announced 3-17-08
STATUS: Flying plateau. Breaking higher Tuesday on stronger, above average volume as BRKR announced solid earnings that broke it out of its three week range. This lateral move consolidated the late February breakout from its 8 week cup. Nice consolidation, nice break higher, ready to move in as BRKR continues the run.
Volume: 1.071M Avg Volume: 721.881K
BUY POINT: $15.57 Volume=1.1M Target=$18.95 Stop=$14.48
POSITION: TQB HC - Aug. $15c (65 delta, 133 OI) &/or Stock
http://www.investmenthouse.com/ct/brkr.html
Play Date: 03/18/2008
CAT (Caterpillar--$76.87; +2.41; optionable): Heavy equipment
http://biz.yahoo.com/p/c/cat.html
EARNINGS: Announced 1-25-08
STATUS: Reverse head and shoulders. Volume is back up above average the past week as CAT gapped higher over the 200 day SMA (74.68), bumping into the neckline of its 21 week accumulation base. Like the strong volume on the recent moves; always good before a breakout. Good gap higher Tuesday up to last week's highs and we are looking to move in as it clears these and the December peak.
Volume: 9.405M Avg Volume: 7.2M
BUY POINT: $77.32 Volume=11M Target=$86.95 Stop=$74.55
POSITION: CAT HO - Aug. $75c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/cat.html
Play Date: 03/18/2008
FTI (FMC Technologies--$59.89; +4.58; optionable): Oil and gas service company
http://biz.yahoo.com/p/f/fti.html
EARNINGS: Announced 2-14-08
STATUS: Reverse head and shoulders. Surging volume the past three sessions, particularly Tuesday, as FTI moved to the cusp of the breakout from its 5 month base. Kind of a base on base pattern with a cup in November and December, then the rest of the pattern forming up through Tuesday. Now it looks ready to make the breakout move with this strong Tuesday bounce. Ready to move in as it continues higher.
Volume: 2.798M Avg Volume: 2.044M
BUY POINT: $60.62 Volume=3M Target=$69.95 Stop=$56.38
POSITION: FTI GL - July $60c (59 delta, 200 OI) &/or Stock
http://www.investmenthouse.com/ci/fti.html
New buy point on current position:
Play Date: 03/18/2008
CHT (Chunghwa Telecom--$24.91; +0.72; optionable): Chinese telecom
http://biz.yahoo.com/p/c/cht.html
EARNINGS: 3-27-08
STATUS: Flying plateau. CHT has made us some good money, and after gapping higher in the second half of February it looks to have just about completed its three week flying plateau with a volume surge Tuesday as CHT bounced up to test the top of the range. Strong money flow is moving up sharply, and we are ready to move in as CHT continues higher, clearing the recent peaks in the range.
Volume: 3.418M Avg Volume: 2.028M
BUY POINT: $25.42 Volume=3M Target=$29.45 Stop=$23.98
POSITION: CHT FE - June $25c (58 delta, 54 OI) &/or Stock
http://www.investmenthouse.com/ci/cht.html
Good Investing!
Jon L. Johnson and your Technical Traders Report Team
All of the foregoing is commentary for informational purposes only. All statements and expressions are the opinion of Online Investment Services, LP. or its paid consultants and are not meant to be a solicitation or recommendation to buy, sell, or hold securities. We are not licensed or registered in the securities industry. The information presented herein and on our related web site has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. The security portfolio of Partners in Online Investment Services, LP. or its paid consultants may, in some instances, include securities mentioned herein and on our web site. Estimates, assumptions and other forward-looking information are subject to the limits of forecasting. Actual future developments may differ materially due to many factors.
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